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KBBO Says Reviewing Options for Centurion Health Provider

KBBO Group, which owns Abu Dhabi-based investment firm Centurion Investment, said it’s reviewing options for health-care provider CosmeSurge & Emirates Hospital Clinics.

“We’re looking at our options for a listing or a private placement,” KBBO Chairman Khalifa Butti Bin Omeir said today in a telephone interview. There’s currently “no listing planned,” he said.

Centurion is seeking to list CSEH on the Dubai Financial Market as soon as possible, two people familiar with the matter said earlier today, asking not to be named as the information isn’t public. Dubai-based Emirates NBD PJSC is an adviser on the sale, according to the people.

Centurion acquired Abu Dhabi-based CSEH as part of its purchase of health-care group CSH Investments last month for an undisclosed amount. Centurion plans to raise as much as $500 million with the sale, according to one of the people.

Middle Eastern health-care companies, including Abu Dhabi’s Al Noor Hospitals Group Plc and NMC Health Plc., listed shares in London in the past two years, while Saudi Arabia’s National Medical Care Co gained 119 percent since a March local listing.

CosmeSurge provides cosmetic and reconstructive surgery and has clinics in the United Arab Emirates, Kuwait and United States, according to its website. Emirates Hospital provides general medical services with four branches in Dubai and Abu Dhabi, its website shows.

A spokesperson for CSEH didn’t immediately return calls for comment. An Emirates NBD spokesman, who asked not to be identified because of company policy, also declined to comment.

United Arab Emirates companies are planning share sales after stock values in the region surged. Dubai’s DFM General Index is the world’s best performer this year among 94 equity gauges tracked by Bloomberg, with a gain of 25 percent. Shares closed up 2 percent in Dubai today.

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